SmartRent, a provider of smart home automation for property owners, managers, developers and residents, has closed a $60 million Series C funding round led by Spark Capital with participation from Fifth Wall, Energy Impact Partners, the Amazon Alexa Fund, Bain Capital Ventures and RET Ventures.
“The tailwinds of e-commerce, food and grocery delivery, and the broader digital economy were already significant entering 2020, resulting in widespread demand for hardware-agnostic smart home and access technology platforms like SmartRent,” said Will Reed, general partner at Spark Capital. “That demand has only accelerated as property owners and operators look for ways to make property tours contactless and handle deliveries in a seamless manner. We’re thrilled to partner with Lucas and the entire SmartRent team as they continue to help an entire segment of the economy digitally transform their operations and resident experiences.”
SmartRent offers connected, brand-agnostic solutions designed to give multifamily property owners, managers and residents more efficiency, convenience and security protection across their property. Solutions include the Alloy Fusion all-in-one touchscreen hub and thermostat, the newly launched Alloy Access for access control and self-guided tours. Clients include Essex Property Trust, MAA and Aimco. In 2019, the company experienced 600% growth in the number of connected units.
The firm also announced two C-suite hires: Darian Hong as chief financial officer and C.J. Edmonds as chief revenue officer.
